Freddie and Fannie, Banks, Auto Dealerships, and now AIG? Can anyone explain to me just wtf is going on when our leaders that are supposed to be looking after the interest of our nation so readily fund billions of dollars for people that have already proven they have no idea how to handle money?
As a small business owner I find it an insane practice. If I go screw up my money I would be forced to close my business and either get a real job or simply do without yet if a company is making and throwing away billions through bad money management they can now simply request a do-over from congress. I understand that President Obama and congress as a whole are struggling with finding a way to balance our budget. I understand that if many of these businesses closed it could be a devastating blow to America as a whole with jobs being lost by the tens of thousands. That much I get.
What I dont get is why we so readily hand over billions in taxpayers money to these same people that have already shown either a lack of common sense when it comes to spending or a general inability to control their habits. God forbid they not be allowed to take their private jets everyplace they go or have to cancel their monthly visit to the Virgin Islands. I say before another bail out is allowed to take place our leaders must institute some kind of check and balance system to account for where and how the money will be spent. Any company that requests a bail out should immediately be placed under financial control of the government, all of their company officers and board of directors removed from any decision making power and their personal salaries adjusted accordingly.
Just as I will not give my hard earned money to the alcoholic standing next to the outside of a convenience store (I will buy him food if he asks), America should not expect taxpayers to fund unregulated bail outs of the super rich and their out of control spending habits. Save the companies? Yes, Their collapse affects too many american jobs. Support the habit? Hell No!
It's time we as Americans inform congress that continued misuse and misappropriations of taxpayers funds will not be tolerated. I urge you all to write your congressman and if necessary next election vote someone new into office.
Oh and Mr. President, in case you somehow stumble upon this blog, I am serious about a bail out. As a small business owner, I think a few million will suffice. I will even give to your re-election fund if you can grant that.
Tune in next post as I explain to the powers that be my own plan to balance the budget.